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IMF clears Sri Lanka second tranche loan of 329 mln dlrs
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by sudharaka | November 7, 2009 at 11:07 am
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WASHINGTON — The International Monetary Fund said Friday its executive board approved the release of 329.4 million dollars to Sri Lanka, the second portion of a loan to help the country weather the economic crisis.The IMF said the board completed the first review of Sri Lanka's economic performance under a 20-month standby loan.
This allows the immediate disbursement of the second tranche, bringing total disbursements under the arrangement to 658.8 million dollars.
"Sri Lanka's performance under the standby arrangement is encouraging," said IMF deputy managing director Takatoshi Kato.
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Most RecentMost Recommended Comments (2)
at 02:14 on November 8th, 2009
Now, the IMF has to guard itself from the remnants of the LTTE terrorists in that part of the world.
at 11:27 on November 15th, 2009
IMF couldn't stand the begging of SL beggars. SL need to pay their debts to China and
Russia and all the military expenses.